Lombard International Life Assurance Company: History, Contacts, Partnership, Services & Products, Claims, Financial Details, Benefits, Reviews and more

If you are looking for a reliable and reputable provider of wealth structuring and succession planning solutions, you might want to consider Lombard International Life Assurance Company.

This company is a global leader in the field of unit-linked life insurance and annuities, serving high-net-worth individuals and institutions across the world.

Lombard International Life Assurance Company
Lombard International Life Assurance Company | photo courtesy | Getty Image

 

In this article, we will give you an overview of Lombard International Life Assurance Company, its services and products, its financial performance, its ratings, and its benefits.

We will also tell you how to contact them and how to become a member.

About Lombard International Life Assurance Company

Lombard International Life Assurance Company (LILAC) is part of Lombard International Group, which has over 30 years of experience in the wealth assurance sector.

LILAC specializes in variable universal life and annuity products that are designed to meet the multi-jurisdictional wealth planning needs of the sophisticated high-net-worth individual and institutional clientele.

Lombard International Life Assurance Company serves markets across Asia, Europe, the Middle East, Latin America, and the United States, providing multi-jurisdictional unit-linked life insurance and private placement insurance structures, with a deep understanding of local regulations, cultures, and attitudes.

LILAC is licensed and regulated as a long-term insurer by the Bermuda Monetary Authority (BMA), and as such is required to adhere to Bermuda law including applicable anti-money laundering/anti-terrorism financing legislation and regulations that apply to onboarding new clients and continue throughout the business relationship.

Table of contacts of Lombard International Life Assurance Company

If you want to get in touch with LILAC, you can use the following contact details:

Region Phone Email Address
Bermuda +1 441 278 4300 info@lombardinternational.bm Lombard International Life Assurance Company (Bermuda) Ltd. 3rd Floor, Chesney House 96 Pitts Bay Road Pembroke HM08 Bermuda
Europe +352 34 61 91 1 info@lombardinternational.com Lombard International Assurance S.A. 4 rue Lou Hemmer L-1748 Luxembourg Grand Duchy of Luxembourg
Latin America +1 305 503 9000 info@lombardinternational.com Lombard International Life Assurance Company (Bermuda) Ltd. Miami Representative Office 701 Brickell Avenue Suite 1550 Miami FL 33131 USA
United States +1 215 825 9300 info@lombardinternational.com Lombard International Administration Services Company LLC Two Liberty Place 50 South 16th Street Suite 2900 Philadelphia PA 19102 USA

 

You can also visit their website here for more information.

Table of affiliates and partners of Lombard International Life Assurance Company

LILAC is part of Lombard International Group, which consists of several companies that operate in different regions and jurisdictions.

The group also has strategic partnerships with various financial institutions and advisors that help them deliver their solutions to their clients.

Here is a table of some of the affiliates and partners of LILAC:

Affiliate/Partner Description
Lombard International Assurance S.A. A Luxembourg-based company that offers unit-linked life insurance solutions for wealth planning and succession purposes to high-net-worth individuals, families and institutions across Europe and beyond.
Lombard International Administration Services Company LLC A US-based company that provides administrative services for private placement life insurance (PPLI) and private placement variable annuity (PPVA) products issued by LILAC.
Lombard International Global Insurance Ltd. A Bermuda-based company that specializes in group variable annuity products for asset managers and institutional investors globally.
Blackstone Group Inc. A US-based alternative asset management firm that acquired a majority stake in Lombard International Group in 2014.
Swiss Re AG A Swiss-based reinsurance company that provides reinsurance capacity for LILAC’s products.
HSBC Bank plc A UK-based banking and financial services company that acts as a custodian bank for LILAC’s assets.

 

What are the Services & products offered by Lombard International Life Assurance Company?

LILAC offers a range of services and products that are tailored to the specific needs and objectives of their clients.

Some of the main services and products are:

Wealth structuring

LILAC helps its clients design and implement customized wealth-planning solutions that address their personal, family, business and philanthropic goals.

These solutions can include tax optimization, asset protection, estate planning, business succession, charitable giving, family governance, and more.

Succession planning

LILAC helps its clients ensure that their assets are transferred to their chosen beneficiaries in a smooth and efficient manner while minimizing the impact of taxes, fees, and legal complexities.

These solutions can include trust and foundation structures, beneficiary designation, cross-border planning, probate avoidance, and more.

Investment options

LILAC offers its clients access to a wide range of investment options that suit their risk profile, return expectations, and liquidity needs.

These options can include mutual funds, hedge funds, private equity, real estate, commodities, structured products, and more.

Variable universal life insurance

LILAC offers variable universal life insurance products that combine life insurance protection with investment flexibility.

These products allow the policyholder to adjust the premium payments, death benefit, and investment allocation according to their changing needs and circumstances.

The policyholder can also access the policy’s cash value through loans or withdrawals, subject to certain conditions and charges.

Variable annuity

LILAC offers variable annuity products that provide a stream of income for a specified period or for life, depending on the chosen option.

These products also allow the annuitant to invest in a range of underlying funds that can grow tax-deferred until withdrawals are made.

The annuitant can also benefit from various features such as death benefit, guaranteed income, guaranteed withdrawal, and more.

Private placement insurance

LILAC offers private placement insurance products that are designed for sophisticated investors who seek enhanced investment performance, tax efficiency, and asset protection.

These products are issued by LILAC in Bermuda and administered by Lombard International Administration Services Company LLC in the US.

They are customized to the specific needs and objectives of each client and can access a variety of alternative investments that are not available in traditional insurance products.

How to Claims with Lombard International Life Assurance Company

If you are a policyholder or a beneficiary of a policy issued by LILAC, you may need to make a claim in case of a death, maturity, surrender, or withdrawal event.

To do so, you will need to follow these steps:

  • Contact LILAC or your advisor to notify them of the claim event and request the relevant claim forms.
  • Complete the claim forms and provide the required supporting documents, such as death certificate, identification documents, bank details, and more.
  • Submit the claim forms and documents to LILAC by mail, fax, or email.
  • Wait for LILAC to process your claim and pay the proceeds to you or your designated recipient.

The time it takes for LILAC to process your claim may vary depending on the type and complexity of the claim, the completeness and accuracy of the information provided, and the applicable laws and regulations.

You can contact LILAC at any time to check the status of your claim or ask any questions.

Table of Financial details of Lombard International Life Assurance Company

LILAC is a financially sound and stable company that has a strong track record of delivering consistent results.

Here are some of the financial details of LILAC as of December 31, 2022:

Financial detail Amount
Assets under administration €57.0 billion
New business premiums €6.1 billion
Net income €62.4 million
Solvency ratio 190%

 

How to become a member of Lombard International Life Assurance Company

If you are interested in becoming a member of LILAC and accessing their services and products, you will need to follow these steps:

  • Contact LILAC or your advisor to discuss your wealth planning needs and objectives and find out if LILAC’s solutions are suitable for you.
  • Complete an application form and provide the required information and documents, such as identification documents, source of wealth evidence, health questionnaire, and more.
  • Choose your preferred product type, premium amount, payment frequency, investment options, policy features, and beneficiaries.
  • Submit your application form and documents to LILAC for review and approval.
  • Pay your initial premium and receive your policy document.

You can contact LILAC at any time to make changes to your policy or ask any questions.

What are the Benefits of Lombard International Life Assurance Company

Lombard International Life Assurance Company (LILAC) offers many benefits to its clients who choose their services and products.

Some of these benefits are:

  • Expertise: LILAC has over 30 years of experience in the wealth assurance sector and has a team of highly qualified professionals who can provide expert advice and guidance on wealth structuring and succession planning solutions.
  • Flexibility: LILAC offers customized solutions that can be adapted to the specific needs and objectives of each client. They also offer a wide range of investment options that can suit different risk profiles, return expectations, and liquidity needs.
  • Security: LILAC is regulated by the Bermuda Monetary Authority (BMA) and follows strict standards of compliance, governance, and risk management. They also have strong financial ratings from AM Best and Fitch Ratings that reflect their financial strength and stability.
  • Tax efficiency: LILAC’s products offer tax advantages for clients in various jurisdictions, such as tax deferral, tax-free growth, tax-free transfers, tax-efficient withdrawals, and more.
  • Asset protection: LILAC’s products offer asset protection features for clients who face potential creditors, lawsuits, or political risks, such as confidentiality, segregation of assets, bankruptcy remoteness, and more.
  • Legacy planning: LILAC’s products offer legacy planning features for clients who want to preserve and transfer their wealth to their chosen beneficiaries, such as trust and foundation structures, beneficiary designation, cross-border planning, probate avoidance, and more.

The Ratings of Lombard International Life Assurance Company (LILAC)

Ratings of Lombard International Life Assurance Company (LILAC) are indicators of its financial strength and stability, as well as its ability to meet its ongoing insurance obligations.

The ratings are assigned by independent rating agencies that evaluate various aspects of the company’s performance, such as:

  1. balance sheet strength
  2. operating performance
  3. business profile
  4. enterprise risk management.

Here is a table that shows the ratings of LILAC by two rating agencies: A.M. Best and Kroll Bond Rating Agency (KBRA).

Rating Agency Rating Outlook
A.M. Best A- (Excellent) Stable
KBRA A Stable

 

These ratings reflect the following factors:

  • LILAC has a strong position in the global private placement and unit-linked life and annuity markets, serving high-net-worth individuals and institutions across the world.
  • LILAC has positive earnings trends, driven by strong premium growth, favorable investment performance, and efficient expense management.
  • LILAC has longstanding distribution relationships with various financial institutions and advisors that help them deliver their solutions to their clients.
  • LILAC has a low-risk business strategy that focuses on fee-based income, asset-liability matching, diversified investment portfolios, and prudent reserving practices.
  • LILAC is part of Lombard International Group, which has a solid capitalization, a supportive shareholder (Blackstone Group Inc.), and an experienced management team.

Customers and Media Reviews of Lombard International Life Assurance Company (LILAC)

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